7 Goals Of Succession Planning (2024)

Succession planning ensures companies recruit and develop employees are recruited and developed to fill key roles efficiently and effectively. Succession planning is not just about establishing paths for promotion — it’s about matching the right person for every job in a company. For example, if a key position in the organization has a high probability of being vacated by a pending retirement, underperforming employee, or flight risk, the company greatly benefits from having a plan to identify a candidate who has the right skills and experience to replacethem.

Succession planning enables an organizationto:

  1. Determine the right skill mix to achieve company goals and determine what gaps needclosing.
  2. Identify talented employees and provide education to develop them for futureresponsibilities.
  3. Identify which employees that are at risk ofleaving.
  4. Identify and plan steps to retain superioremployees.
  5. Build “bench strength” by identifying positions key to the company’ssuccess.
  6. Determine where employees best fit in theorganization.
  7. Identify employees who are poor performers or who don’t align with the company’sgoals.

Effective succession planning requires clarity on an organization’s long term goals. The process needs to take into account the developmental needs and goals of each employee. Key employees then need to understand the roles, responsibilities, and career paths of the positions that they are being developed to fill. Job employment trends in the organization’s industry must be examined to identify roles that are difficult to fill externally and then acted upon to recruit more widely or offer more traininginternally.

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Basic Organization Chart For SuccessionPlanning

A diagnostic org chart provides a clear view of the workplace for planning purposes. Org charting software tools help visualize the organization and its personnel hot spots. OrgChart automates the organization mapping and visualization process by pulling pre-existing data from your HRIS. The basic chart above clearly shows positions that are filled, but are expected to be vacant, using OrgChart. Additional fields may be added to display key metrics such as tenure, expected departure date, skill sets,etc.

The ultimate goal of succession planning is to promote and hire superior people that have the passion, character, capability and track record for the job. An org chart presentation of the data can become fundamental to communicating the urgency for serious planning and taking action to protect a company’s greatest asset. It’speople.

Chart Your Way to Success withOrgChart

In an ever-evolving business landscape, understanding your organization’s present and visualizing its future is paramount. OrgChart is here to help you map your journey. Harness our software’s potential to visualize your organization, unearth vital talent insights, and facilitate impactful workforce planning like neverbefore.

Why Choose OrgChart for Your Organization’s SuccessionPlanning?

OrgChart is built with HR professionals in mind, seamlessly bridging current realities with future visions. With OrgChart, youcan:

  • Visualize your organization’s current state: Combine all your people data in one place for an accurate view of your organization. You can track the metrics that matter most to you, accelerating onboarding, and increasing overallefficiency.
  • Map your organization’s future state: Model future changes to your organization and understand their impact. Align your organizational structure with strategic goals, and prepare for significant people-related changes or forecast organizational structures post‑merger.
  • Create vibrant, engaging charts: Enhance visibility across your organization with live, filterable, and embeddable charts that provide real-time employee datainsights.
  • See the meaning behind your data: Create custom formulas to track your most crucial metrics, identify trends, and prepare data-driven presentations that highlight gaps andopportunities.

Optimize your workforce planning: Collaborate with key stakeholders to develop actionable plans in real-time, tracking key metrics, setting targets, and measuring the impact of yourchanges.

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Rethink Org ChartSoftware

Recognized as the most essential, most utilized tool in an HR professional’s toolbox, OrgChart goes beyond your typical organizational charts. It efficiently transforms data into useful tools, illustrating how your people can best support your organization’s goals. Moreover, it models workforce planning scenarios, helping you visualize your organization’s futurestate.

Visualize your organization’s future with OrgChart. Leverage your people data, promote efficiency, effectiveness, and informed decision-making. Watch as OrgChart transforms the way you perceive your organization, turning abstract data into actionableinsights.

Don’t wait to chart your organization’s future success. To get started, request a demo today, and experience first-hand how OrgChart can revolutionize your succession planningprocess.

7 Goals Of Succession Planning (2024)

FAQs

7 Goals Of Succession Planning? ›

Usually succession planning goals include business continuity, talent retention, internal mobility (supported by learning and development), corporate culture, and those relating to costs and expenses.

What are succession planning 7 steps to success? ›

We outline seven steps you can take to effectively instil succession planning within your business:
  1. Identify key roles. ...
  2. Create role profiles. ...
  3. Identify potential successors. ...
  4. Assess, assess, assess. ...
  5. Strategic development. ...
  6. Implement your strategy. ...
  7. Analyse and evaluate.

What are the goals of succession planning? ›

In the long term, succession planning strengthens the overall capability of the organization by:
  • Identifying critical positions and highlighting potential vacancies;
  • Selecting key competencies and skills necessary for business continuity;
  • Focusing development of individuals to meet future business needs.

What is the main goal of succession? ›

The ultimate goal of succession planning is to promote and hire superior people that have the passion, character, capability and track record for the job.

What are the key elements of succession planning? ›

4 Must-Have Elements for Succession Planning
  • Have a plan. First, you have to draft your overall plan. ...
  • Identify prospects. You've identified the critical roles, the impact of each role, and the competencies required to perform the role. ...
  • Be transparent. ...
  • Focus on skills development.
Jun 17, 2020

What are the 6 steps of succession? ›

There are six simple steps you can follow in order to create a robust succession planning process:
  • Identify Critical Roles.
  • Draft Success Profiles.
  • Nominate Succession Candidates.
  • Assess Development Needs.
  • Develop Talent.
  • Measure Progress.

What are the 5 D's of succession planning? ›

Consideration of the 5 Ds alone—death, disability, divorce, disagreement, and distress—should prompt business owners to initiate the exit and succession planning process, as they represent the certainties that business ownership will eventually transition.

What is a typical succession plan? ›

What is succession planning and why is it important? Succession planning is the process of identifying very important positions in the organization and creating a talent pipeline, by preparing employees to fill vacancies in their organization as others retire or move on.

What is a 9 box matrix? ›

The 9-box model, also known as the 9-box grid, is a tool used to analyze, display, and compare employee work performance and potential. This user-friendly performance map is a talent management tool that helps HR and managers effectively identify leaders and strategically prepare employees for future roles.

What is a smart goal in succession planning? ›

SMART Goal Example: Develop a comprehensive succession plan to ensure a smooth transition of leadership roles within the organization over the next seven years. Specific: Involves creating a succession plan. Measurable: Success can be measured by plan development and execution. Achievable: Realistic within seven years.

What is the role of HR in succession planning? ›

The role of HR in succession planning is about much more than filling vacancies – it's centered on ensuring an organization can adapt and continue to thrive today and in the future.

What makes succession planning successful? ›

Openness, fairness and diversity. Employees need to understand the succession process. Transparency is key in the methods used to judge potential successors and the kinds of jobs considered suitable for each individual.

What is succession planning in successfactors? ›

Succession planning is a proactive approach to identifying and developing your existing top talent so you stay competitive.

What is the correct order of the succession planning process? ›

Effective Succession Planning

There are 4 stages of succession planning: implementing a software solution, assessing key roles, identifying employees with the skills and potential, and creating and implementing development plans.

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